More on phantom bidding
A phantom bidding model is analyzed for a sale auction. The following issues are addressed: the effects of phantom bidding on overall social welfare and buyers' profits. It is shown that social welfare may increase or decrease as the auctioneer switches from the fixed reserve price policy to phantom bidding. The buyers' profits will increase whenever social welfare increases.
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Volume (Year): 15 (2000)
Issue (Month): 3 ()
|Note:||Received: November 4, 1998; revised version: February 8, 1999|
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